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Oils & Fats - Uganda

Uganda
  • Revenue in the Oils & Fats market amounts to US$760.90m in 2024. The market is expected to grow annually by 9.39% (CAGR 2024-2029).
  • In global comparison, most revenue is generated India (US$46bn in 2024).
  • In relation to total population figures, per person revenues of US$15.24 are generated in 2024.
  • In the Oils & Fats market, volume is expected to amount to 170.70m kg by 2029. The Oils & Fats market is expected to show a volume growth of 5.2% in 2025.0.
  • The average volume per person in the Oils & Fats market is expected to amount to 2.8kg in 2024.

Definition:

The Oils and Fats market covers all substances that are composed of fatty acids and used for cooking purposes or as an ingredient in many food products. These fats and oils can be obtained from plants or animals and are available in both liquid (oils) and solid (fats) form.

Structure:

The market consists of four different submarkets:

  • The Butter market covers all products that are defined as a high-fat milk product and contain a minimum of 80% fat. Its other ingredients are water, protein, and lactose.
  • The Margarine market covers all products that are made of vegetable oils and contains a minimum of 80% fat.
  • The Edible Oils market covers any type of oil that is extracted from plants and is used for cooking and food preparation.
  • The Other Oils & Fats market covers lard and other edible animal fats.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Butter
  • Margarine
  • Edible oils
  • Edible animal fats

Out-Of-Scope

  • Peanut Butter
  • Ghee
  • Butter oil
  • Out-of-home consumption
Oils & Fats: market data & analysis - Cover

Market Insights report

Oils & Fats: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Oils & Fats market in Uganda is experiencing subdued growth, influenced by factors such as fluctuating raw material prices, changing consumer preferences towards healthier options, and increased competition from imported products, impacting overall market dynamics.

    Customer preferences:
    Consumers in Uganda are increasingly gravitating towards healthier cooking oils and fats, driven by a growing awareness of nutrition and wellness. This shift is reflected in the rising demand for oils rich in omega-3 fatty acids and those derived from plant sources, such as avocado and coconut oil. Additionally, younger demographics are prioritizing sustainability, favoring brands that emphasize environmentally friendly sourcing and production methods. The influence of social media is also notable, as it shapes preferences for trendy, health-conscious products, further transforming the Oils & Fats market landscape.

    Trends in the market:
    In Uganda, the Oils & Fats market is experiencing a significant shift towards healthier options, with consumers increasingly opting for oils enriched with omega-3 fatty acids and those sourced from plants, such as avocado and coconut oil. This trend is particularly pronounced among younger consumers who prioritize sustainability, gravitating towards brands that advocate eco-friendly practices. Additionally, social media plays a crucial role in shaping consumer preferences, promoting health-conscious products and influencing purchasing decisions. These dynamics present both opportunities and challenges for industry stakeholders, necessitating adaptation to meet evolving consumer demands.

    Local special circumstances:
    In Uganda, the Oils & Fats market is shaped by local agricultural practices and a rich cultural heritage that emphasizes traditional cooking methods. The abundance of local oilseed crops, such as sunflower and groundnuts, fosters a vibrant market for domestically produced oils. Additionally, cultural preferences for natural and traditional foods drive demand for locally sourced and minimally processed options. Regulatory frameworks promoting food safety and labeling standards also influence consumer trust, pushing brands towards greater transparency and quality assurance. These local factors create a unique landscape for the Oils & Fats market, differentiating it from global trends while highlighting opportunities for sustainable practices.

    Underlying macroeconomic factors:
    The Oils & Fats market in Uganda is significantly influenced by macroeconomic factors such as agricultural productivity, trade policies, and global commodity prices. The health of the national economy, characterized by GDP growth and inflation rates, directly affects consumer purchasing power and demand for oils and fats. Additionally, fluctuations in global oilseed prices can impact local production costs and pricing strategies. Favorable fiscal policies that support agricultural development and investment in infrastructure enhance market access for local producers. Moreover, the increasing global trend towards healthy eating and sustainability is reshaping consumer preferences, creating opportunities for innovative, eco-friendly oil products in Uganda.

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

    Modeling approach:

    Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

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    Oils & Fats: market data & analysis - BackgroundOils & Fats: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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